Ms. Emma Thompson reports
ONEX COMPLETES INVESTMENT IN SCHUMACHER GROUP AND ANNOUNCES ACQUISITION OF HOSPITAL PHYSICIAN PARTNERS
Onex Corp. has completed its investment in Schumacher Group in partnership with its founder, Dr. William C. (Kip) Schumacher, and certain members of its management. Schumacher is a leading U.S. provider of outsourced emergency and hospital medicine clinical staffing services.
All amounts are in U.S. dollars unless otherwise stated.
Onex has also entered into an agreement to acquire Hospital Physician Partners (HPP) through a subsidiary, in partnership with HPP's founders, Dr. David Schillinger and Jeffrey Schillinger. HPP is the fourth-largest U.S. provider of emergency and hospital medicine clinical staffing services.
The investment in Schumacher followed by the purchase of HPP will create a market leader with enhanced clinical expertise and an expansive physician recruiting network across a diversified customer base in complementary geographies. The HPP transaction is expected to close later this year.
The investments will be made by Onex Partners IV, Onex's $5.7-billion flagship fund. The terms of the transactions were not disclosed.
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